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S. Koreans' overseas plastic card spending rises in Q2

SEOUL
2023-08-31 11:47

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SEOUL, Aug. 31 (Xinhua) -- South Koreans' overseas plastic card spending rose in single digits in the second quarter of this year due to demand for overseas travel and foreign products, central bank data showed Thursday.

Using credit, check and debit cards, local residents spent 4.65 billion U.S. dollars overseas in the April-June quarter, up 1.0 percent from the previous quarter, according to the Bank of Korea (BOK).

It continued to expand for the fifth consecutive quarter as the still high number of domestic residents went abroad for travel amid the increased online purchase of foreign products.

The number of outbound travelers reached 4.95 million in the second quarter, slightly down from 4.98 million in the previous quarter.

The direct overseas purchases through online shopping gained 3.8 percent to 1.24 billion dollars in the cited quarter.

Overseas spending per plastic card reduced by 2.5 percent over the quarter to 300 dollars in the second quarter.

Overseas expenditure through check and debit cards decreased, but credit card use grew in the quarter.
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